St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-04-24

Pnsiness in Realty Continues to Increase,
While Prices Advance Steadily and
Are Very Firm.
The Necessity of More Rapid Transit More
and More Apparent Every Day in
81. Paul.
Broadway Property Sells for ST. 800
per Front Foot, the Highest
Sale Yet Made.
Dealings in Acres. Business Property,
Town Lots, Increasing Daily
at Advancing Figures.

The dealing in real estate in ST. Paul con-
t6nues with great activity. There are so
many, however, in the business of selling
it that the market has the appearance OF
being rather quiet. The records show
transactions of considerably more than
$500. 900 day. On Tuesday last the
transfers ran up to S495, 7S9 and on Thurs
day to S3l5, 3S5. and = for the four days up
TO and including Thursday the amount OF
real estate recorded as sold was 81. 155. 049.
SO that Notwithstanding the market looks
to be only moderately active and even
almost quiet there is very large amount
of business in realty being done in st. Paul
this spring. The scope of business.
that is the extent of the country
covered by the business. is more extended
than ever before. 1t reaches from a con-
siderable distance above the northern boun-
diary of the city to below South ST. Paul, a
distance of eight or ten miles, and from
many miles east of the city limits to the
western limits of the city where st. Paul
joins Minneapolis. Within this broad area
there is more activity in realty than there
ever has been heretofore in the history of
the city. Every description OF property is
called for and the demand is for one kind
about as much as for another. We have
never had such 4 universal call for all
kns of realty as we are having now. Yet
if one will make the round of the real
estate offices he will find that there is but
little apparent activity. This comes from
the fact that everybody seems to be dong
something and of course the aggregate is
large. -5 D
MERRIAM AND UNION PARKS. i .lg
These two well-known parks have ex-
erted considerable influence in pointing out
how an imperiouS demand and necessity Of
the people of st. Paul could be supplied
As the property in the center of the city in
creaseS in value it becomes just in that pro-
portion too valuable for the poorer classes
to live upon and hold for homes. Several
years ago transfers, policemen. salaried
men and men generally of small means
made kind of general movement across
the river and bought cheap lots on the flats
in West st. Paul that could be had for q
very small price indeed. Land corporations
were formed that bought real estate over
there and erected dwelling houses for
poor people. giving them a long time and
easy terms for paying. This was very for
tunate. and operated we'll AS long as it
lasted, but all at once prosperity struck West
ST. Paul with great force and universal
effect Values advanced all through that
part of the city at fabulous rate. The
growth OF this part of ST. Paul has been
a wonderful one, and the indications are
that there is still greater prosperity in
store for the Sixth ward than anything she
has yet experienced. The value of property
over the river has increased to such all ex-
tent that one is now compelled to go out a
long distance to get lot to build upon for
moderate price. 1t is the same in every
direction. The increase of population
has been so large and so rapid
that it could not be other,
wise. Merriam and Union parks have fur
nished plan through which satisfactory
remedy can be found. Though lots in
these parks have come also to be expensive,
the system of establishing such suburban
places six ana seven miles out of the city,
on the line of some railroad, where quick
transportation TO and from the city can be
had readily and the price of lots can be
kept within reasonable limits, so that young
men who are living on salaries can have
comfortable homes, is good one. This is
being done in number of instances, and
several towns are being located Oil the diff
ferent railroads five, six and seven miles
out of the city, The advantages of this
policy are numerous and so apparent that
they need not be set forth.